Its a non-reporting company. Hard to say more about it than that in a lot of respects. I could not buy more if I wanted to as my broker won't allow purchase of non-reporting micro caps like this. However if the reporting situation should change so that what is going on is more transparent, things might be different and the message of the market might be more meaningful. There are a number of folks on this board that would have you believe that the volume is so low because so many shares are locked up in the strong hands of a small group of investors. I think while that may be somewhat true to an extent, I also believe that the non-reporting problem has a larger impact on the volume being traded in this name.
What happens in the overall oil market is important as understanding it can also help identify how the market participants make their bets in terms of their longer term capital budgets. The offshore projects are often longer term projects requiring huge capital investment. Would the fact that off shore producing companies are being hurt less in this market downdraft than the on shore companies influence their investment stance going forward? You bet. When we see off shore producers not losing market cap at the same rate as the on shore producers this can provide some useful insight for those trying to read the tea leaves as to what happens going forward, as it reflects the mood of those respective investors.
Is it possible for the tiny minnow we have here called ERHE to get swallowed up by a whale as they place their bets going forward for long term capital budgeting? One would certainly hope so judging by the banter going on back and forth on this board. And the fact there seems to be activity in the surrounding blocks by these larger players seems to hint that such an outcome is not impossible. I would venture to say that many here would not hesitate to tell us that it is not only possible but probable.
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